Elevate Wealth

Elevate Wealth Advisory

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Elevate Wealth Advisory was founded in 1982 in Athens, Georgia, with the goal of helping people make smart decisions with their money. One of our core values is lifelong learning, and we are pleased to bring our insight to listeners through this podcast and hope it helps answer questions and build your knowledge about wealth management.

1 DAG GELEDEN

Which Accounts Do I Spend First in Retirement?

Taxable account, IRA, or Roth—where should retirement withdrawals come from first? Joseph Hardeman and Deanne Rosso explain why there isn’t one perfect order for everyone, and how a tax-smart approach can help keep income steady and avoid unwanted tax surprises.Want a personalized withdrawal strategy? Visit elevate-wealth.com and click Let’s Talk.🔗 Website: https://elevate-wealth.com🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!#RetirementIncome #TaxPlanning #RothIRA #Investing #ElevateWealthAdvisory When you retire, which account should you pull from first, taxable, IRA, or Roth? We're talking about it today on Elevate Wealth. Hi everyone, I'm Joseph Hardeman with Elevate Wealth Advisory, and I'm here today with our president and CEO, Deanne Rosso. Deanne, thank you for joining us. I'm happy to be here, Joseph. This question comes up constantly. Deanne, do you assume there's one right account for people to spend first in retirement? You know, people do assume that, they do. They think that there's one right account that they shouldn't withdraw from first. And you know, most retirees have different types of accounts. And the type of account that you pull from affects lots of things. It affects your taxes now. It affects your Required Minimum Distributions later. So there's lots of different decision points, if you will, that go into which type of account you should pull from first. So what's the simple answer? The simple answer is: it depends. like, as is the answer to every simple question. It depends. But we often use a blended approach. And what I mean by that is maybe the way that we're taking withdrawals is from different types of accounts simultaneously. And a lot of times, we do that just simply for tax purposes. You know, one account you take from is fully taxable. Another account type, like a Roth, may not be taxable at all. And then you have an account that only part of it, like capital gains, are taxed. So, a lot of times that the simple answer is not so simple, but it's just deciding which types of those accounts work together to get you the best tax outcome. And what would you say is a common mistake people make when they try to do this on their own? Oh, that's a really great question. You know, I think it's just not understanding what the taxation is of certain account types. So, for example, I've had clients before that wanted to buy a new car. So, they took a sizable withdrawal out of their IRA to buy a car in cash and not understanding that those dollars were fully taxable at ordinary income rates. So, not only did they owe tax on the withdrawal, but it also because they had taken such a large withdrawal, it pushed them into a higher tax bracket the next year. So, or or that year. And so I think that sometimes that's a mistake that people make is just not realizing the tax consequences of withdrawals. So when you're going into building a plan, what would you say is the first thing you really look for? Well, the first thing I'm looking for is, you know, what income do they need? What income do you need to live on? And then what income do you need maybe for the extras like in that example for buying a car? And then we're going to decide, okay, you know, here are your income sources. Here's what you have available to you. Here's how each of those are taxed. And how can we put those together in a way that's most efficient for you and your personal situation? It's all helpful information, something really everyone should consider. If you want help building your best tax withdrawal plan, visit us at elevate-wealth.com and click let's talk. We'll see you next time.

3 min.
14 MEI

All My Friends Are Taking Social Security Early, But My Adviser Says Wait?

Should you take Social Security early because everyone else is doing it—or consider waiting? Aspen Townley and Deanne Rosso discuss why the best choice depends on your full income plan, including monthly benefit amounts, spouse considerations, cash flow needs, and taxes.Want help comparing your options side by side? Visit elevate-wealth.com and click Let’s Talk.🔗 Website: https://elevate-wealth.com🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!#socialsecurity #RetirementPlanning #RetirementIncome #TaxPlanning #ElevateWealthAdvisory Your friends say take the Social Security early, but your adviser says maybe wait. Who's right? Let's talk about that today on Elevate Wealth. Welcome back. I'm Aspen Townley here with Elevate Wealth. Today I'm sitting here with Deanne Rosso, our president and CEO. Deanne, I'm glad you're back. Always happy to be here. So, I have to ask, do you ever hear this exact line from clients? "My friends tell me to take my Social Security as early as possible, but you're telling me to wait." All the time. We hear that all the time and we do advise clients differently based on their life situation. So we hear all the time, "well I went to lunch with my friends and everyone else is taking social security now" or "they're telling me I should take it early." But it really that choice really depends on your own personal life scenario. So yes, to answer your question, we hear that a lot. Makes sense. So why would waiting ever be the move? Well, oftentimes, waiting increases the benefit that you're going to get. And also when you are married, have a spouse or when you're divorced, or when you are widowed or widowered, there are lots of different options that are available with Social Security. So the important thing is that you analyze it for your own situation because what you're doing and your family and your life is different than, you know, your best friend or your friends at lunch. And so it's very very important that your own benefit is analyzed and in context with the rest of your retirement plan, as well. Okay. What is one thing that you wish people would take a look at before they decide? Just doing some side-by-side comparisons of what they would actually get over their lifetime by taking it early, versus delaying that decision and waiting versus maybe even delaying all the way until the maximum age of 70 for themselves, and if they're married, as a couple, because it's really the lifetime benefit that matters, not what matters as far as what you get today. Ah, that makes sense. Thank you, Deanne, for your insight. If you want help reviewing your Social Security choices, visit elevate-welp.com and click let's talk. See you soon.

2 min.
7 MEI

Things I Didn’t Know When I Was Getting Ready to Retire

Retirement is more than hitting a savings number—it’s about creating a paycheck. Aspen Townley sits down with Deanne Rosso to talk about the “I wish I’d known this sooner” moments, including how taxes, timing, and income decisions can shape your retirement.If you’re getting close to retirement and want help mapping this out, visit elevate-wealth.com and click "Let’s Talk."🔗 Website: https://elevate-wealth.com🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!#RetirementPlanning #RetirementIncome #TaxPlanning #FinancialPlanning #ElevateWealthAdvisory What do people wish they knew before they retired? Let's talk about it today on Elevate Wealth. Hi everyone, I'm Aspen Townley with Elevate Wealth Advisory. I'm sitting down today with Deanne, our president and CEO. Deanne, thank you for joining us. I'm happy to be here, Aspen. Okay, so this topic comes up all the time. Deanne, do you ever hear clients say, "I wish I would have known that sooner when they're getting ready to retire." All the time. There are so many things that go into the retirement decision. And then, you know, a couple years down the road, people will look back and say, "Oh, I wish I had known this. I wish I had known that." And so, it is part of our job to help bring those things up and think about what are the things that you need to be prepared for when you're thinking about retirement. Ah, gotcha. So, what's the most common "I didn't know that" moment? Oh, that's a great question. You know, I think when you have worked a whole career and you've built up all of these savings, you understand that you have this nest egg for retirement, but sometimes you don't understand how that translates into how you actually get a paycheck in retirement. And so thinking through all of your income sources, where do those paychecks come from, taxes associated with it, timing, all of those kinds of things, I think are probably a top-of- mind decision for pre-retirees. Makes sense. So, if someone was a year or two out from retirement, what is the first conversation you'd want to have with them? Yeah. I want to think about, you know, how much income do you need? What do you need to live on in retirement? What do your expenses look like now and in the future? You're talking about, you know, the next half of your life's journey. And so, we want to think about how do we pull that paycheck? And we want to think about, you know, also things like what benefits do you get from your employer now that you're going to need to replace on your own in retirement, like health care, for example. So, I think there's lots of little decisions that add up to the big overall retirement picture, and we want to have those conversations heading into retirement. That's such a good point. Thank you, Deanne. If you're getting close to retirement and want help mapping this out, visit elevate-wealth.com and click let's talk. See you soon.

2 min.
30 APR

Why You Should Freeze Your Credit

Freezing your credit is a simple step that can help prevent identity theft and stop new accounts from being opened in your name. Deanne Rosso and Clarke Holt explain what a credit freeze does, what it doesn’t do, and when to temporarily unfreeze it. Want help protecting your financial plan and personal information? Visit elevate-wealth.com and click Let’s Talk. 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #CreditFreeze #IdentityTheft #CyberSecurity #PersonalFinance #ElevateWealthAdvisory Want a simple way to protect your identity and your finances? Let's talk about freezing credit today on Elevate Wealth. Hey everybody, I'm Deanne Rosso with Elevate Wealth Advisory, and I'm here with Clarke Holt. Hey, Clarke. Hey, how are you? I'm good. So Clarke, what does it mean to freeze your credit, and what does it actually do? Okay, so a credit freeze means you are going to hopefully all three of the bureaus, Experian, Equifax, TransUnion, and you are freezing your credit. And that way someone cannot open new credit or new loans in your name. It does not affect your existing credit cards or your ability to use your existing credit, lines of credit, things like that. So this is more about stopping new accounts being opened on your behalf. Exactly. Not stopping someone from using cards you already have. Right. So, you still have to protect that. You still have to protect that. And you do that a lot of the ways we've talked about prior series like, you know, strong passwords, unique passwords, multifactor authentication, alerts, things like that. Okay. So, when should somebody freeze their credit, and when should they unfreeze it? So, I think, I tell people I think you should freeze your credit no matter what, no matter how old, no matter if you have built credit, go ahead and freeze it. It's a great way to protect yourself. And what you can do with these three credit bureaus is you can actually add a...what they call...we call it unfreeze, but you can add a thaw to your credit. So basically, you can thaw your credit for 24 or 48 hours or a period of time. So if you're going car shopping in Atlanta for the weekend, you can.. and then it immediately automatically will refreeze after that time period. That gives them time to pull your credit if you're, if you are purchasing that car. So, just only when you're going to apply for credit. Gotcha. Okay, that's really smart. And so just note also, I think, that when you freeze your credit, you're sometimes unable to access things like your social security. You're unable to set up a social security online account, but if you already have a login, you can still access that, right? So, just know you may need to unfreeze your credit when you want to do things like that or thaw it for a period of time. One thing to add is these credit bureaus do give you usernames, passwords. Some give you PIN numbers that you really have to keep up with. So if you want to go in and add a thaw, you've got to have that PIN number. So it's very important you keep up with those as well. Right. So another layer of password security as well. Yeah, absolutely. So that's super super helpful. And for those of you who are watching, these what seem like small steps, I know they take time, but they're definitely things that can protect your identity, can protect your finances, can protect you from those online hackers and scammers and and folks who try to open accounts in your name. So, if you'd like some advice or help or guidance in ways that you can protect yourself online or you can protect your finances, we are here to help. You can visit us at elevate-wealth.com and click "Let's talk." Thank you for joining me, Clarke. Absolutely. And thank you all for watching and listening.

3 min.
23 APR

Are Software Updates really Necessary?

Those update reminders can be annoying, but they often include important security fixes. Deanne Rosso and Clarke Holt explain why updates matter, plus how to tell the difference between real updates and fake “update” pop-ups that could be risky. Want help creating safer habits around your financial life? Visit elevate-wealth.com and click Let’s Talk. 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #SoftwareUpdates #OnlineSafety #CyberSecurity #ScamPrevention #ElevateWealthAdvisory Those software update reminders are really annoying, but are they actually important? We'll find out today on Elevate Wealth. Welcome. I'm Deanne Rosso with Elevate Wealth Advisory and I'm joined by Clarke Holt. Welcome, Clarke. Thank you. Glad to have you with me today, Clarke. So, Clarke, tell us why do software updates matter so much? So, software updates matter because they often include security patches and fixes, bug fixes, things like that. So, this can help alleviate any kind of vulnerabilities that are exposing us to hackers and that the hackers may already know about, so to speak. If we delay those updates, and we often do hit, you know, remind me in 24 hours, that leaves us exposed. Yes. And that's not good. No, that's not good. So, what's a practical approach to installing these updates that won't disrupt your day? The easiest thing is just make everything automatic. So turn on automatic updates whether that's your laptop, your desktop, cell phone, iPad. And so that just keeps it so much easier for us and not we don't have to either be worried if it's suspicious. Yeah. And so that's the main thing right there. Well, I think you know you make a good point that something could feel suspicious. So we often see popups that say "update now," and sometimes they do feel sketchy. So how do we tell a real update from a fake one? So, a little bit like our series on phishing emails, updates often are real, but they can be fake. And so, it usually would come from the, you know, the device itself or the apps inside the device or maybe from the app itself or from the app store. If you have any concern, best thing to do is avoid it, or treat it as suspicious and maybe go to the app store or go to your settings and then update from there. But, again, don't click on anything. Don't hit update. It could be suspicious and then leave you vulnerable. What are some of those things that are good rules of thumb to kind of stay safe? And going into your settings, you know, just update from apps you trust or software programs you know that you have. It doesn't hurt to take a second, and third look at any kind of update that pops up. But typically, if something's popping up and and giving you kind of a sense of urgency, maybe just take a breath, and go about it a different way, but do treat it maybe as suspicious until you know that it's the real deal. Yeah. Only updates from things that you trust, right? I mean, and get guidance if you need it. You know, you can go online, you can look up things. You can call um Microsoft, for example. You can call places. Call your adult children. Exactly. You know, or call your teenage children. They'll probably know too. So, best thing you can do is just act with caution in these situations. So, great guidance. Thank you for being with me today. And if you'd like to build safer habits around your financial life and online logins and making sure we're avoiding phishing emails and things like that, we're here to help. You can visit us at elevate-wealth.com and click "Let's talk." Thanks so much. We'll see you next time.

3 min.
16 APR

Is Public WiFi Safe?

Coffee shop Wi-Fi and airport networks are convenient—but are they safe? In this episode, Deanne Rosso and Clarke Holt explain the real risks of public Wi-Fi and what to avoid doing on open networks. Want help protecting your personal and financial information? Visit elevate-wealth.com and click Let’s Talk. 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!#PublicWiFi #CyberSecurity #OnlineSafety #ScamPrevention #elevatewealthadvisory Is public Wi-Fi safe, or should you avoid it? Find out today on Elevate Wealth. Hey, everybody, I'm Deanne Rosso with Elevate Wealth Advisory. Happy to be back and joined again by Clarke Holt. Hey Clarke. Hey, how are you? I'm good. How are you doing? Great. So, people may be wondering why are financial advisers here talking about what might be an IT issue, right? But it's because people often check like bank account balances, investment account balances, and online account personal information, in public places like coffee shops, airports, hotels, things like that. So, Clarke, what is the real risk with public Wi-Fi? So, the risk is that someone in that area of public Wi-Fi could intercept activity on your laptop or your tablet. And so that's what we're trying to avoid is having that something somebody that might be nefarious....if you're doing something that's sensitive or some sort of financial activity, that could get intercepted, and that's what we want to try to avoid. And when you say intercepted, you mean they're taking things like your login, your password, the things that are needed to access your identity. Right. Wow. That's so scary. So what's the safest rule of thumb, then, to avoid that situation? So, what we tell people is that, you know, don't do any type of banking or financial transactions in public Wi-Fi areas. Again, you nailed it....coffee shops, airports are the two biggies. I mean, lobbies of hotels. If you have to do something on your laptop that might be sensitive, use a VPN, a Virtual Private Network. Okay. There's lots of great ones you can subscribe to. Or just use your cellular data. That may be a better way, but just use common sense. Keep it very generic if you're kind of doing web browsing, but no financial transactions or activity. Yeah. So, I mean, obviously cyber security and identity theft is a real risk these days. We see more and more hacks of our personal information, of our accounts and things like that. So, like Clarke says, protect yourself. You know, use a VPN if you're going to...that Virtual Private Network...or your cell data if you're going to access Wi-Fi in public areas. Or just try not to do those types of things in a public place. I mean, that's the simplest way to avoid someone intercepting you. Just have a cup of coffee, and do your work at home. Have a cup of coffee and talk with a friend. Exactly. Well, thank you, Clarke, for joining me today. And if you'd like more tips and tricks about how to protect yourself online, protect your financial information from security online security fraud, we are here to help. You can visit us at elevate-wealth.com and click "Let's talk." Thank you for watching. We'll see you next time.

3 min.
9 APR

How Can I Secure My Online Accounts?

Stronger logins can help protect your financial life. Deanne Rosso and Clarke Holt cover the top steps to make your accounts more secure, including better passwords and multi-factor authentication. Want help building safer habits for your online accounts? Visit elevate-wealth.com and click Let’s Talk. 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #OnlineSecurity #TwoFactorAuthentication #CyberSecurity #PersonalFinance #elevatewealthadvisory Want a simple way to make your accounts more secure? Let's talk logins today on Elevate Wealth. Hey there, I'm Deanne Rosso with Elevate Wealth Advisory, and I'm here again today with Clarke Holt. Welcome Clarke. Thank you for joining me. So Clarke, as we know, wealth planning isn't just about growing your money, it's also about protecting it. And part of protecting your money is protecting your online identity and protecting your login and things. So what do you think is the number one thing that people can do to make their login safe? Great question. So use very strong, very unique passwords. Also use a multifactor authentication. That really can help as well. And then if you want to use a password manager, that can be beneficial as well, so you don't have to keep up with all your passwords. Yeah. So what do you think is better? Like SMS text messaging or an authentication app? An authentication app typically is more secure than texting. So if that's available, that's the way to go for sure. Yeah. Yeah. So oftentimes I think also those authenticator apps have like backup codes. So keeping those...Yep...housed somewhere safe in a separate location. Exactly. Also a good idea. And if a company offers it obviously, you know, you want to use that, you want to sign up for that multifactor authentication. Definitely. Definitely. Well thank you Clarke. Um, it's really scary. I mean, if someone gets in into your email account, there's so much information that can be accessed just by being able to access your email and authentication things, and security codes really help keep those things safe. So, having those strong login habits is really helpful. Doing it every time, having your multiffactor apps, having your password portal and keeping those passwords safe because this is just like another step in risk management. We often think about things like insurance and things like that as far as risk management, but protecting your financial online identity is also another step in risk management. So, thanks for joining me today, Clarke. Absolutely. And if you need help figuring out which authenticator app is best for you or which password portal, or how you use those things to help protect your financial identity online, feel free to reach out to us. You can visit us at elevate-wealth.com and click "Let's talk." Thanks so much and we'll see you next time.

2 min.
2 APR

How Do I Avoid Scams?

Phishing emails are getting more convincing. In this episode, Deanne Rosso and Clarke Holt share the biggest red flags to watch for, what to do if you’re unsure an email is real, and how to protect your accounts from scams. Have questions about protecting your financial accounts? Visit elevate-wealth.com and click Let’s Talk. 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #Phishing #ScamPrevention #CyberSecurity #IdentityTheft #ElevateWealthAdvisory Fishing emails are getting more convincing. How can you spot one? Let's talk about this today on Elevate Wealth. Hey there, I'm Deanne Rosso with Elevate Wealth Advisory, and I'm joined by Wealth Advisor Clarke Holt. Hey there, Clarke. Hey, how are you? Good. I'm glad that you're here for this one Clarke. So, you might be thinking, you're a wealth advisory firm. Why are we talking today about phishing scams and things like that? And it's because protecting your identity is really important, particularly when it comes to your financial accounts, right? And more and more we're seeing scams and breaches and more and more our life is online. So bank account logins, brokerage account logins, retirement portals, payroll, even our tax documents, every...our life is online these days. And so phishing is one of the most common ways that scammers access our information. So, Clarke, what are the biggest red flags that we should look for when it comes to phishing emails? A lot of it is is this sense of urgency, and you so we get an email and it says, you know, there's there's this document that needs to be finished either signing or you need to log into this account. So, again, and usually it's this unusual request, but it might be from a very trusted source or what we think is a trusted source. And so, it looks real. It does. It does. And I think we have to just use some common sense, take a breath, and slow down. And there's some other things we can do to obviously try to fish that out. So, Clarke, what should someone do if they're unsure if the email is real? First of all, don't click on anything. And oftentimes, if you hover over the sender's email address or name, it could be it could be a completely random email address or name that you don't recognize, which is a a bad sign. Treat it as suspicious from the beginning, obviously. Open up a new web browser or a new web page. Go to the company website that the email came from and grab a known 800 number or some phone number where you could reach out. But don't call the number in the email. Right. Don't call the number. Don't click on anything. Don't call that number. Avoid...and then move that email into your junk folder, your spam folder. Yeah. What if I just do nothing with it? I think you're fine. So if they want to get in touch, they'll get back in touch with you. So if they need something, they'll reach back out. A lot of the times, if it's real, they will find you in another way. They'll call you or send you a letter in the mail. Yeah. Absolutely. Absolutely. Great advice, Clarke. Sure. Yeah. A lot of times legitimate companies will tell you, if we send you something urgent, you need to call and check with us. Exactly. So I think that's a really good piece of advice. Don't fall into the sense of urgency, right? Because most of the phishing emails do make it seem like we need to take immediate action. Great advice, Clarke. And if you have questions about phishing emails or protecting your identity online, especially when it comes to your financial accounts, we're here to help. You can visit us at elevate-wealth.com and click "Let's Talk." And we look forward to seeing you again next time.

3 min.

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Elevate Wealth Advisory was founded in 1982 in Athens, Georgia, with the goal of helping people make smart decisions with their money. One of our core values is lifelong learning, and we are pleased to bring our insight to listeners through this podcast and hope it helps answer questions and build your knowledge about wealth management.

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Elevate Wealth Advisory
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